Jmc Live July 15, 2009

JMC Live July 15, 2009 Rod Williams Ext. 8583 [email protected]

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Intro 

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Job Market Consultant – Connecting you to work opportunities in real time (50% external networking activity)  Corporate Recruiters  Search Firms  Professional Organizations A Real Time Interactive Job Market Update for NYC Metro Clients Added Value Job Market Intelligence

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Discussion…  Recap

Of The NYC Job Market

 Employment

Trends & Hiring

 Variables?!?!?!? Q

&A

 Columbia

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U. Teachers College

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NYC Job Market Recap 

Unemployment: Unemployment  NYC

jumped to 9.0% from 8.0% the previous month and up from 5.1% the previous year  5 Boroughs climbed to 8.7% from 7.8% over the previous month up from 4.8% last year 

NYC (not all bad news…)  The

Recession is expected to end somewhere between the 3rd & 4th Qtr but with economic growth at only 2%, consumers aren’t likely to see it until mid 2010…  Apartment rental & leasing is more available…

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Job Growth… Growth 

Educational & Health Services (+16,300) 

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Other Services (+900) 

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Losses in motion picture & sound recording.

Government (-3,700) 

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Seasonal losses and delayed or cancelled projects

Information (-6,000) 

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Losses in administrative and support services and employment services.

Manufacturing (-12,700) Natural Resources, Mining, and Construction (-9,700) 

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Losses concentrated in retail trade, especially clothing and clothing accessory stores.

Professional & Business Services (-22,700) 

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Employment losses in financial activities were largest in finance and insurance, especially securities, commodity contracts, and related activities.

Trade, Transportation & Utilities (-24,700) 

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Religious, grant-making, civic, professional, and similar organizations, automotive repair & maintenance.

Financial Activities (-28,000) 

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Mostly gains at colleges, universities, and professional schools.

Significant growth at the federal level didn’t completely offset local level layoffs.

Leisure & Hospitality (-1,600) 

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Decrease was across arts, entertainment, food services, and drinking places. LHH NYC

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Employment Market Outlook 

STRONG FORECASTS    

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MODERATE OR MIXED FORECASTS     

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Accounting/Auditing/Compliance (SOX), Risk Management Healthcare & Education Renewable Energy & Construction Security (Cyber, Physical, Economic, & Political) Telecommunications – wireless vs. landline Entertainment/Media (interactive & non-traditional) Insurance (Conglomerates vs. Straight Line) IT & IS Staffing (Contracting) & Consulting

WEAK FORECASTS     

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Real Estate & Mortgage Banking Financial Services: Banking & Securities Consumer Products & Packaged Goods Information (movies & sound vs. print, network TV & Radio) Retail

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NYC Hiring (a diverse mix)…             

Interpublic Group (2010 Census contract $250-300M) General Growth Properties $700M 1.7M Sq. ft mixed use project Marcum & Kliegman Accounting firm (800 positions) IKEA (500 positions.) Industrial & Commercial Bank of China Wal-mart relocating apparel buying and planning group Retailers: Costco, BJ’s, Nordstrom, Target, J.C. Penney, Kohl’s, Supermarkets: Whole Foods, Pomegranate, Food Cellars Rock-n-Roll Hall of Fame Annex Touro School of Pharmacy Steiner Studios (550 positions) Sivercup Studio ($1B complex) & Kaufman Astoria Studio ($20M expansion) Hospitality: 50 new hotels over next 2 years (+12,000 rooms) including Hyatt (2 properties)

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Flip Side of the Coin… Coin 

Financial Services: UBS, American Express, Citigroup, JP Morgan Chase  Bank of America, Morgan Stanley, Merrill Lynch  Goldman Sachs, Credit Suisse, RBS, Deutsche Bank  AXA Insurance, AIG, American Stock Exchange 

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National Football League McGraw-Hill & Rodale Publishing & Newsweek General Growth Properties, Coldwell Banker Hunt Kennedy, DTZ Rockwood Bloomberg American Airlines & ATA Airlines Balducci’s Avon & L’Oreal American Stock Exchange & NYSE Euronext Filene’s Basement, Oilily, Ultra Stores, Door Store, Finlay Enterprises Time Warner & MTV Networks Pfizer JW Seligman WolfBlock LLP LHH NYC

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Variables… 

National Economic Outlook 

Stimulus Bill & TARP (Troubled Assets Relief Program) 

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Continued Real Estate pricing slide…  

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Sub-prime Lending fallout continues Troubled bank list grew to 305 from 211 in 3 months)…

Domestic Auto Industry Crisis Job Search competition increasing

M&A and Investment  

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Recession, Bailout, Inflation, Slowdown…

Slowed (valuation, foreign investment) More consolidation (auto, airlines, IT, financial services)

Technology Integration   

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Market forces slowing investment & profit LinkedIn, Naymz, Facebook, Fox Interactive (My Space) Ad revenue decline (Web) LHH NYC

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Recession Employment Bottom Line... 

Unemployment will continue to increase

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Mid-tier firms are continuing to grow

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Executive search down 35%

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Outstanding vs. Good…

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Q & A… 

Industries?

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Occupations?

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Functions?

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Thank You… 

Additional workplace topics…

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Keep reading the JMC Report online: http://www.esnips.com /web/LHHNYCJMC

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You can review today’s and previous JMC Live presentations online: http://www.esnips.com/web/LHHJMCLive

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Special Guest… 

Welcome:

Kate McDonnell Asst. Director of Admissions Columbia University Teachers College

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